Licenses

Offshore is one of the top ways to do business remotely. It is an effective instrument for tax planning, expanding commercial horizons, and is simple to access. Offshore jurisdictions provide companies with a wide variety of business activities unimpeded by legislation. At the same time, most countries require special licenses or authorizations to run certain types of business. This primarily concerns financial sector activities, specifically the financial markets.

There is a certain classification of licenses according to the types of financial transactions:

trading in Foreign Exchange;
currency exchange;
money transmission services;
payment processing services;
depositary services;
trading in securities, options, futures, debt obligations;
assets protection and management;
money brokering on financial markets;
payment and cash services;
agency work in a financial transaction.

In addition to financial services, there are a number of activities that are subjected to compulsory licensing: e-commerce, online gambling, banking, insurance and other activities.

In this case, the following types of licenses are listed:

online casino license;
offshore banking license of different classes;
insurance license;
non-bank credit organization license;
tour operator license;
recruitment agency license;
software provider license.

Licensing is necessary to render qualified intermediary and advisory services in the financial sector.

Otherwise, the company's activity is considered illegal and the company itself is subjected to legal prosecution, according to the local legal regulations.

Obtaining a certain type of license requires compliance with a number of conditions within the framework of the particular jurisdiction. In addition, compliance with standard regulations is not an absolute guarantee of license’s receival, as the local committee may request additional documents at its discretion. However, some countries do not require special licenses; entering the details of the activity in the Memorandum and Articles of Association would be enough.

A successfully licensed registration depends on the completeness and correctness of documents. Furthermore, it is necessary to meet the requirements regarding the legal form of the company, minimum paid-up capital, and the following report delivery. These requirements should both be complied with to obtain a license and to make sure it will not be revoked in the future. It should be noted that in this case the government fees previously paid are non-refundable.

Obtaining licenses in the local context requires accomplished skills possessed by the professionals of IT-OFFSHORE LTD. In addition to that, the company's agents will help you to select the best jurisdiction for your business in order to perform competent business structuring and optimize tax payments.

How to get E-Money License

The need to buy a license of the payment system appears in the case of the intention to create your own electronic bank to conduct financial transactions with counterparties. Sub-accounts are created for clients, the identification of counterparties is carried out through the introduction of limits for operations. Certain requirements for transactions are established depending on the jurisdiction and level of customer identification. The binding of the license is carried out to the bank cards of the partners serviced in the system.

Gambling license

Only with the presence of a special license and the preparation of all necessary documents it is possible to conduct business - it must be legal, not inconsistent with existing laws. The specifics of obtaining a permit for activities in other states are determined by the commission to control this type of activity. The rules contain the behavior of persons who have a relationship with the licensed company. The conditions for obtaining a license are similar to the requirements for persons who conduct banking activities.